Maine

Mon
07
May

How Maine is reshaping the marijuana industry

The marijuana industry is budding before our eyes, and investors who've trusted in pot stocks for a year or longer have likely been handsomely rewarded. Since the beginning of 2016, most marijuana stocks have vaulted higher by triple- or quadruple-digit percentages.

Why such optimism? To begin with, North American legal weed sales are expected to catapult from $9.7 billion in 2017 to more than $47 billion a decade later, according to cannabis research firm ArcView. Investment firm Cowen Group is even more bullish and is expecting the global cannabis market to tip the scales at $75 billion by 2030.

Thu
03
May

Maine lawmakers override governor to start adult-use marijuana sales

Today, Maine lawmakers override the governor to start adult-use marijuana sales, but the process of implementing a law voters approved in 2016 has just begun.

State legislators in Maine have just done something remarkable. Today, in a striking display of political will, lawmakers in both chambers of the legislature voted to override Governor LePage’s veto of a bill legalizing adult-use cannabis sales.

Republican Gov. Paul LePage had long-vowed to block any recreational bill that crossed his desk. But after only a brief debate prior to the voting, Maine lawmakers were able to override the governor to start adult-use marijuana sales.

Maine’s House and Senate Unite To Overcome Governor’s Veto

Tue
01
May

Maine and Vermont block legal adult-use cannabis sales yet again

Gov. Paul LePage vetoed Maine's cannabis regulations for a second time, while the Vermont House tabled a bill to create a taxed market for marijuana.

Fri
20
Apr

Recreational vs. medical: Taxes divide pot advocates, LePage

The governor has warned lawmakers against having different tax structures for medical and recreation use.

Fear of tax evasion is one reason Gov. Paul LePage wants to veto the adult-use cannabis bill.

The two-term Republican thinks Mainers who aren’t really sick will flock to the medical market because adult-use cannabis would be taxed at a higher rate – an effective tax rate of about 20 percent compared to medical’s 5.5 percent sales tax. LePage has worried that setting up two marijuana programs could lead to tax evasion and black market diversion since voters first legalized recreational marijuana in 2016. He cited it in his veto letter last year, when he scuttled the Legislature’s first adult-use market bill.

Thu
19
Apr

Maine lawmakers believe they can override governor's veto on marijuana bill

Lawmakers in Maine are confident they have the votes to override a likely veto by Gov. Paul LePage (R) on a bill legalizing recreational marijuana.

The state Senate on Tuesday passed the bill in a concurrence vote of 25-10; the House also approved it last week by a veto-proof margin.

Legislators in the House believe their bloc of support for the bill will hold if the governor follows through on his promise to use a veto, according to the Portland Press Herald. 

Tue
17
Apr

Maine’s Governor LePage vows to veto bill regulating cannabis sales

Staunchly anti-legalization, Maine’s Governor LePage vows to veto bill regulating cannabis sales. Will his views be enough to stop it though?

Maine’s Governor LePage vows to veto bill regulating cannabis sales in the state, it was revealed this week. But that might not be enough to stop the measure.

The Maine House of Representatives passed the bill last week by a vote of 112-34. That margin is enough to override a LePage veto. The Senate is currently considering the compromise law and is expected to give its final approval later this week.

Fri
13
Apr

Maine house passes new attempt at rules for retail marijuana market

The Legislature’s second attempt to setup the market and regulatory system for the retail sale of recreational marijuana is already faring better than its first.

The House voted 112-34 Tuesday to pass a major rewrite of the law voters approved nearly two years ago. Additional votes are needed, but the margin in the House suggests the votes are there to override a potential veto by Republican Gov. Paul LePage.

Some legal cannabis advocates warn, however, that efforts to broaden political support for the proposal could have negative consequences.

For independent Rep. Kent Ackley of Monmouth, the Legislature’s latest bid to create a legal market for cannabis could resolve what has been a 17-month legislative odyssey marked by fits, starts and, so far, failure.

Thu
12
Apr

Future Farm positions to dominate the industrial hemp industry starting in Maine

Today, we have the pleasure of being able to publish an interview with Future Farm’s Derek Ross who has been the key player in the company’s industrial hemp business.

We are excited by this high growth vertical and see it as a significant growth driver for the overall company. Derek, it is great to connect with you and we appreciate you being a part of this interview.

Our readers have been very excited by Future Farm’s industrial hemp business and so are we. 2018 has been a major year for Future Farm’s hemp business. Please tell us about the state of current operations and where this emerging growth vertical is going?

Wed
11
Apr

Maine takes a big step toward retail marijuana sales

A supermajority of the Maine House of Representatives endorsed a regulatory bill for the state’s new recreational marijuana market Tuesday, bringing the state the closest it has been to implementing a 2016 legalization referendum.

It’s the Legislature’s second bid in a year to set up a commercial system for marijuana cultivation and sales.

Fri
06
Apr

Maine lawmakers rewrite legal cannabis regulations (again)

Recreational pot sales have been in limbo while state lawmakers struggle to draft regulations. As a result, Maine’s medical marijuana businesses are suffering.

It has been nearly two years since Maine residents voted for the legalization of recreational cannabis, but the adult-use pot dispensaries and social-use clubs that voters approved are still nowhere in sight.

A state legislative committee is now wrapping up a second attempt at drafting regulations for retail sales, which will soon move to the state's House for a vote, potentially opening the door for sales to begin next year.

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